We are still in a strong seller’s market!
The market continues to race toward the fall with our sales market experiencing 671 properties that closed in the last 9 weeks. From July 4 โ Sept 5, 2020. These sold units represent a total gross sales of $216,695,672.
The following information represents a weekly breakdown of these residential sales in Worcester County:
July 4-11:
70 properties sold
$21,050,913 in gross sales
Average list price $309,453
Average sold price $300,871
Average days on the market 110
July 11-18
85 properties sold
$23,379,313 in gross sales
Average list price $358,436
Average sold price $350,020
Average days on the market 97
July 18-25
71 properties sold
$22,022,599 in gross sales
Average list price $318,843
Average sold price $310,177
Average days on the market 91
July 25 โ August 1
106 properties sold
Average list price $316,934
Average sold price $311,425
Average days on the market 113
August 1-8
54 properties sold
$17,244,300 Gross sales
Average list price $324,970
Average sold price $319,339
Average days on the market 86
August 8-15
74 properties sold
$24,961,400 Gross sales
Average list price $363,74
Average sold price $353,532
Average days on the market 80
August 15-22
71 properties sold
$23,571,451 Gross sales
Average list price $339,099
Average sold $331,992
Average days on the market 109
August 22-29
78 properties sold
$27,529,676 Gross sales
Average list price $363,865
Average sold price $356,989
Average days on the market 67
August 19 โ Sept 5
62 properties sold
$24,245,001 Gross sales
Average list price $403,753
Average sold price $391,048
Average days on the market 92
These recent sales leave our market with only 64 available ocean front properties in Ocean City and only 578 available residential listings in all of Worcester County. Additionally, there are but 223 available lots, or land, available to those interested in building a custom home.
The market is still holding strong as a sellerโs market, and continues to be an opportune time to list your property for sale. This aggressive trend, lack of inventory, and low interest rates holds a buyerโs market firmly at bay.
Contact your local REALTOR for a free competitive market analysis for your home or land.
